President Donald Trump said he is prepared to levy tariffs on imported pharmaceuticals as soon as the end of July, with the duties likely taking effect on or around Aug. 1. The president told reporters the measure would start with a low rate, giving drugmakers roughly a year to shift production to the United States before “very high” tariffs—potentially as steep as 200%—would follow. Trump added that a similar schedule is being considered for semiconductors, calling the implementation "less complicated." The twin moves broaden his administration’s aggressive tariff strategy, which already includes a baseline 10% duty on most goods and a 145% levy on Chinese products introduced in April. Alongside the tariff threats, Trump said he expects to complete two or three trade agreements before Aug. 1 and is in discussions on a total of five to six deals. Earlier this week the White House announced a pact with Indonesia that sets a 19% reciprocal tariff on Indonesian goods and includes Indonesian commitments to purchase $15 billion in U.S. energy, $4.5 billion in agricultural products and 50 Boeing aircraft. Analysts warn that drug and chip levies could disrupt global supply chains and raise costs for consumers, while the European Union and other trading partners have signaled they may retaliate. U.S. pharmaceutical manufacturers such as Pfizer, Merck and Eli Lilly, along with chip makers including Intel and AMD, could face significant strategic and pricing decisions if the tariffs proceed.